30.38.005 - Definitions. - Washington Statutes

Definitions.

As used in this chapter, unless a different meaning is required by the context, the following words and phrases have the following meanings:

     (1) "Bank" means any national bank, state bank, and district bank, as those terms are defined in 12 U.S.C. Sec. 1813(a), and any savings association, as defined in 12 U.S.C. Sec. 1813(b).

     (2) "Bank holding company" has the meaning set forth in 12 U.S.C. Sec. 1841(a)(1), and also means a savings and loan holding company, as defined in 12 U.S.C. Sec. 1467a.

     (3) "Bank supervisory agency" means:

     (a) Any agency of another state with primary responsibility for chartering and supervising banks; and

     (b) The office of the comptroller of the currency, the federal deposit insurance corporation, the board of governors of the federal reserve system, and any successor to these agencies.

     (4) "Control" shall be construed consistently with the provisions of 12 U.S.C. Sec. 1841(a)(2).

     (5) "Home state" means with respect to a:

     (a) State bank, the state by which the bank is chartered; or

     (b) Federally chartered bank, the state in which the main office of the bank is located under federal law.

     (6) "Home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered.

     (7) "Host state" means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch.

     (8) "Interstate combination" means the:

     (a) Merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or

     (b) Purchase of all or substantially all of the assets, including all or substantially all of the branches, of a bank whose home state is different from the home state of the acquiring bank.

     (9) "Out-of-state bank" means a bank whose home state is a state other than Washington.

     (10) "Out-of-state state bank" means a bank chartered under the laws of any state other than Washington.

     (11) "Resulting bank" means a bank that has resulted from an interstate combination under this chapter.

     (12) "State" means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.

     (13) "Washington bank" means a bank whose home state is Washington.

     (14) "Washington state bank" means a bank organized under Washington banking law.

     (15) "Branch" means an office of a bank through which it receives deposits, other than its principal office. Any of the functions or services authorized to be engaged in by a bank may be carried out in an authorized branch office.

     (16) "De novo branch" means a branch of a bank located in a host state which:

     (a) Is originally established by the bank as a branch; and

     (b) Does not become a branch of the bank as a result of:

     (i) The acquisition of another bank or a branch of another bank; or

     (ii) A merger, consolidation, or conversion involving any such bank or branch.

[2005 c 348 § 1; 1996 c 2 § 10.]

Notes: Effective date -- 2005 c 348: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [May 9, 2005]." [2005 c 348 § 7.]